Stock Markets Extend Rally to Second Day, Hit 52-Week Highs
Indian stock markets continued their upward momentum for the second consecutive session on Thursday, with benchmark indices scaling fresh 52-week highs driven by strong global cues and renewed foreign institutional investments.
Key Market Performance
- Sensex: Gained 446.21 points (0.52%) to close at 85,632.68 after hitting intraday high of 85,801.70
- Nifty: Rose 139.50 points (0.54%) to settle at 26,192.15 after reaching 52-week peak of 26,246.65
- Sector Leaders: Oil & gas, financials, and select large-cap stocks drove the rally
Top Gainers and Laggers
Major gainers included Bajaj Finance, Bajaj Finserv, Reliance Industries, HDFC Bank, Tech Mahindra, and Axis Bank, while Asian Paints, HCL Tech, Titan, and Hindustan Unilever were among the underperformers.
“Indian equities rose on optimism around India–US trade talks and progress on phase-1 agreements, boosting overall market sentiment. Global cues also remained strong, led by tech-driven gains following solid earnings. Fresh FII inflows and strength in large-cap sectors such as Auto, Financials, and IT supported the upbeat trend,” said Vinod Nair, Head of Research, Geojit Investments Limited.
Global Market Context
Most Asian markets closed higher, with South Korea’s Kospi, Japan’s Nikkei 225, and Hong Kong’s Hang Seng posting gains, though Shanghai’s SSE Composite ended lower. European markets were trading positively, while US markets had closed higher on Wednesday.
Institutional Activity and Commodities
Foreign institutional investors (FIIs) turned net buyers, purchasing equities worth ₹1,580.72 crore, while domestic institutional investors (DIIs) bought stocks worth ₹1,360.27 crore. Brent crude prices climbed 0.83% to $64.03 per barrel.
The market rally follows Wednesday’s strong performance where the Sensex jumped 513.45 points and Nifty gained 142.60 points, indicating sustained bullish sentiment in Indian equities.
